Financial advisers place an average of 54% of all their insurance premium business with a single provider, according to the recently released Investment Trends 2011 Planner Risk Report.
Based on this key statistic, our latest poll question asks:
What is the most influential factor that determines the choice of your main insurance provider?
The research firm notes how crucial it is for providers to become an adviser’s primary insurer, given the volume of business involved. It cites three areas it says will be key battle grounds amongst insurers as they fight for advisers’ business over the coming year:
- IT systems
- Websites
- Communications
A similar poll run by riskinfo in 2008 revealed that the relationship between adviser and life company was the most important factor when choosing insurers, followed by the quality of underwriting services. Is this still the case?
To what extent have factors such as industry consolidation, regulatory change, technology advancements, product innovation etc, influenced your choice of your main provider?
Consider the options, cast your vote and let us know whether your views on this topic have changed over time…
